Pure Harvest builds and operates high‑tech controlled‑environment farming solutions to reliably produce sustainably grown fresh produce in climates with difficult agricultural conditions. The company plans to use new capital to expand its footprint across the GCC and enter new markets in Asia, deploying growing systems in those markets. Pure Harvest will increase research and development spending and is investigating product extensions and water‑efficient CEA solutions for fodder production. The firm previously secured sizable R&D incentives from the Abu Dhabi Investment Office in 2020. Financially, Pure Harvest completed an oversubscribed USD $180.5 million growth financing, described as the largest‑ever convertible financing in the MEASA region, and is considering further upsizing with strategic investors. Pure Harvest Smart Farms is a technology-enabled controlled-environment agriculture (CEA) operator producing tomatoes, leafy greens and strawberries. The company currently operates three farms in the UAE and has fourth and fifth projects under development in Saudi Arabia and Kuwait. Upon final completion of the in-progress projects it will operate over 18 hectares of production capacity and employ over 300 people. Pure Harvest is positioning itself as the GCC’s homegrown CEA champion and is expanding its technology suite and crop range through a joint venture with PlanTFarm to add indoor vertical farming systems and 100+ commercially proven crops. The company plans to use new funding to finance existing GCC projects, drive R&D initiatives, expand its team and seed a beachhead in Asia. Pure Harvest Smart Farms, founded in Abu Dhabi, develops technology-enabled hybrid greenhouse growing systems to produce tomatoes, leafy greens and berries for local markets. The company focuses on ‘local-for-local’ production to enable fresh produce cultivation within the harsh climate of the Arabian Gulf and to improve regional food security. It is nearing completion of its third hybrid greenhouse in the Emirates, is constructing a beachhead in Saudi Arabia, and has announced a EUR 39 million expansion project in Kuwait. Pure Harvest says its production economics can beat the landed cost of comparable imported produce from European industrial greenhouses. The company plans to diversify its crop offering and advance R&D through partnerships, including work with the Abu Dhabi Investment Office. Capital raised will support capacity expansions, talent recruitment, R&D and new market entry. Pure Harvest Smart Farms builds and deploys technology-enhanced controlled-environment greenhouses to grow pesticide-free fruits and vegetables across the Middle East. The company plans to continue developing advanced greenhouse designs optimized for profitability and sustainability and to roll out its solution regionally, including in Kuwait. It intends to use new capital for growth, key hires, and to enhance its technology portfolio. Pure Harvest is simultaneously arranging structured debt financing alongside equity funding. The company first gained international attention as a participant in TechCrunch’s Startup Battlefield MENA competition. The recent funding push is intended to help the company achieve industrial economies of scale for next-generation greenhouse deployments. Pure Harvest Smart Farms develops high-tech, fully climate-controlled greenhouse production technology to grow vine crops (tomatoes, capsicum, strawberries, cucumbers, eggplants, etc.) in the extreme climates of the Arab Gulf region. Led by Co-Founder & CEO Sky Kurtz, the company is building a facility in Nahel, United Arab Emirates. It plans to complete the facility by mid-year and begin selling produce in the second half of 2018. The company intends to use the facility to demonstrate its technology and its ability to meet regional demand for fresh local produce, with plans to expand quickly across the region thereafter. Financially, Pure Harvest raised $4.5m in seed funding following an earlier $1.1m pre-seed round led by Shorooq Investments.

Total raised

$320M

Funding rounds

5

Latest round

Convertible Note

Latest activity

Jun 2022